PRINCE GEORGE – The world is changing and parents want to make sure their children are ready to succeed. Education and training after graduation can help unlock that success.
Parents in Prince George can go into Integris Credit Union or Spruce Credit Union to kick-start their savings for their children’s future.
To be eligible for the $1,200 education grant, children must be born in 2007 or later. Families have three years, or until the day before the child’s ninth birthday, to submit an application for the grant.
No matching or additional contributions are required to access the $1,200.
“Almost 80 per cent of job openings in the next decade will require some form of post-secondary education and training and it’s critical that we ensure our students are prepared for tomorrow’s job opportunities,” Prince George-Valemount MLA Shirley Bond said. “This grant will support parents as they plan and save for their children’s post-secondary education. We want British Columbians to be first in line for jobs today and in the future and this is one practical way that we can help families make sure their children have the tools that they will need.”
“Education and training after graduation can help unlock success,” Prince George-Mackenzie MLA Mike Morris said. “Even a small amount of savings in an RESP increases the likelihood that a child will continue their studies after high school.”
In the next decade more than 78 per cent of job openings will require some form of post-secondary education and training.
With the $1,200 grant and an investment of $50 a month, savings could grow to $12,000 (based on a 3.5 per cent annual growth rate). Growth of funds will depend on the amount invested and actual returns.
One in three British Columbians are members of a credit union. Central 1 Credit Union is the host organization of the grant for their 42 member credit unions, consisting of 365 branches and more than 550 ATMs across B.C.
The one-time grant of $1,200 per eligible child will be deposited into a Registered Education Savings Plan (RESP) upon approval of the application.
For more information visit your financial institution or www.canlearn.ca.
For more information on the B.C. Training and Education Savings Grant visitwww.gov.bc.ca/BCTESG or call 1-888-276-3624.